Nifty Spot Outlook for 09th Jul

NIFTY

In the previous session Nifty spot opened at 10744.15 , made a low of 10735.05 ,  then made a high of 10816.35 ,  before closing at 10772.65

Had mentioned that long trade will get triggered for the day on sustaining above 10780 and short trade will get triggered for the day on sustaining below 10720 . Nifty triggered the long trade after opening and did around 35 points . 

In this week Nifty needs to break and sustain / close above 10845 to test 10920 - 10935 initially and above it we can see a test of 11000 - 11070 . Similarly Nifty needs to break and sustain / close below 10700 to test 10625 - 10610 initially and below it we can see a test of 10545 - 10475 . 

For the month of July ,Nifty longs will get confirmed with a consecutive close above 10875 for a initial target of 11050 - 11090 and sustaining / closing above it we can see a further test of 11240 - 11400 . Similarly , shorts will get confirmed with a consecutive close below  10550 for a initial target of 10380 - 10335 and sustaining / closing below it we can see a further move till 10190 - 10025 . The previous month Nifty traded between our long and short trigger range and we can expect a strong good move in the direction it takes this month.

Now in the coming session Nifty needs to break and sustain above 10800 to test 10825 - 10835 initially and sustaining above it we can see a further upmove till 10860 - 10885. Similarly breaking and sustaining below 10745 we can see a test of 10715 - 10710 initially and breaking and sustaining below it we can see a further correction till 10685 - 10660 . 

Nifty Spot Levels for the day are

Long above 10800 for 10815 - 10835 - 10885 , SL 10765

Short below 10745 for 10730 - 10710 - 10660 , SL 10780

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.